Market Newsdesk

Farmers National Banc Corp. and Cortland Bancorp Announce Farmers to Acquire Cortland Bancorp

CANFIELD, Ohio & CORTLAND, Ohio–(BUSINESS WIRE)–
Farmers National Banc Corp. (“Farmers”) (NASDAQ: FMNB), the holding company for The Farmers National Bank of Canfield (“Farmers National Bank”), and Cortland Bancorp Inc. (“Cortland”) (NASDAQ: CLDB), the holding company for The Cortland Savings and Banking Company, jointly announced today they have entered into an agreement and plan of merger (the “Agreement”).

Pursuant to the Agreement, each shareholder of Cortland may elect to receive either $28.00 per share in cash or 1.75 shares of Farmers’ common stock, subject to an overall limitation of 75% of the shares being exchanged for Farmers shares and 25% for cash. Based on Farmers’ closing share price of $16.87 on June 22, 2021, the transaction is valued at approximately $124.0 million or $29.14 per share. The merger is expected to qualify as a tax-free reorganization for those shareholders electing to receive Farmers’ shares. The transaction is subject to receipt of Cortland shareholder approval and customary regulatory approvals. The transaction is intended to close in the fourth quarter of 2021.

At the close of the transaction, James M. Gasior, Cortland’s President and CEO will join Farmers executive team as Senior Executive Vice President and Corporate Development Officer. Timothy Carney, Cortland’s Executive Vice President and COO will join Farmers as Senior Executive Vice President and Chief Banking Officer. Furthermore, Farmers intends to name two directors from Cortland’s Board to join its Board of Directors.

Kevin J. Helmick, President and CEO of Farmers, stated, “We are thrilled to announce the acquisition of Cortland and to have Jim and Tim join our executive management team. We have known and competed with Cortland for a long time and this acquisition will further solidify our market share in Trumbull and Mahoning Counties as well as expand our presence in the greater Cleveland area furthering our strategy of building local scale throughout Northeast Ohio.”

“The combination with Farmers is a natural one. Our similar cultures and operating philosophies will help us deliver value and liquidity to our shareholders while enhancing the products we can offer our customers,” said James Gasior.

“We are excited to join forces with a growing community bank to continue to serve our customers and communities in Northeastern Ohio,” said Timothy Carney.

Upon consummation of the transaction, The Cortland Savings and Banking Company will be merged with and into Farmers National Bank and Cortland’s branches will become branches of Farmers National Bank. Upon closing, Farmers estimates it will have approximately $4.1 billion in assets and 48 locations throughout Ohio and western Pennsylvania.

As of March 31, 2021, Cortland had total assets of $791.7 million, which included gross loans of $518.6 million, deposits of $680.3 million and equity of $81.1 million.

Raymond James & Associates, Inc. is serving as financial advisor to Farmers and Vorys, Sater, Seymour and Pease LLP is serving as legal counsel to Farmers on the transaction. Piper Sandler Companies is serving as financial advisor to Cortland and Grady & Associates is serving as legal counsel to Cortland on the transaction.

CONFERENCE CALL INFORMATION

Farmers will host a conference call on June 23, 2021, at 11:00 a.m. ET, to discuss the acquisition of Cortland Bancorp. Participants can join the call by dialing 877-407-4018 or 201-689-8471. The conference call will also be broadcast simultaneously via webcast on a listen-only basis. A link to today’s press release, presentation, and webcast will be available at ir.farmersbankgroup.com.

Replay of the conference call can be accessed through June 30, 2021 by dialing 844-512-2921 or 412-317-6671 and Conference ID: 13720743.

ABOUT FARMERS NATIONAL BANC CORP.

Founded in 1887, Farmers National Banc Corp. is a diversified financial services company headquartered in Canfield, Ohio, with $3.3 billion in banking assets. Farmers National Banc Corp.’s wholly-owned subsidiaries are comprised of The Farmers National Bank of Canfield, a full-service national bank engaged in commercial and retail banking with 41 locations in Mahoning, Trumbull, Columbiana, Stark, Wayne, Medina, Geauga and Cuyahoga Counties in Ohio and Beaver County in Pennsylvania; Farmers Trust Company, which operates five trust offices and offers services in the same geographic markets and Farmers National Insurance, LLC. Total wealth management assets under care at March 31, 2021 were $2.9 billion.

ABOUT CORTLAND BANCORP

Cortland Bancorp is a financial holding company headquartered in Cortland, Ohio. Founded in 1892, the bank subsidiary, The Cortland Savings and Banking Company conducts business through 13 full-service community banking offices located in the counties of Trumbull, Mahoning, Portage, Summit, and Cuyahoga in Northeastern Ohio and a financial service center in Fairlawn, Ohio. For additional information about Cortland Bank visit http://www.cortlandbank.com.

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not historical facts, but rather statements based on Farmers’ and Cortland’s current expectations regarding its business strategies and its intended results and future performance. Forward-looking statements are preceded by terms such as “expects,” “believes,” “anticipates,” “intends” and similar expressions, as well as any statements related to future expectations of performance or conditional verbs, such as “will,” “would,” “should,” “could” or “may.”

Forward-looking statements are not guarantees of future performance. Numerous risks and uncertainties could cause or contribute to Farmers’ or Cortland’s actual results, performance, and achievements to be materially different from those expressed or implied by the forward-looking statements. Factors that may cause or contribute to these differences include, without limitation, Farmers’ and Cortland’s failure to integrate Cortland and The Cortland Savings and Banking Company with Farmers in accordance with expectations; deviations from performance expectations related to Cortland and The Cortland Savings and Banking Company; general economic conditions, including changes in market interest rates and changes in monetary and fiscal policies of the federal government; legislative and regulatory changes; competitive conditions in the banking markets served by Farmers’ and Cortland’s respective subsidiaries; the adequacy of the allowance for losses on loans and the level of future provisions for losses on loans; and other factors disclosed periodically in Farmers’ and Cortland’s respective filings with the Securities and Exchange Commission (the “SEC”).

Because of the risks and uncertainties inherent in forward-looking statements, readers are cautioned not to place undue reliance on them, whether included in this release or made elsewhere from time to time by Farmers, Cortland or on Farmers’ or Cortland’s behalf, respectively.

Farmers and Cortland provide further detail regarding these risks and uncertainties in their respective latest Form 10-Ks and subsequent Form 10-Qs, including in the respective risk factors sections of such reports, as well as in subsequent SEC filings. Forward-looking statements speak only as of the date made, and neither Farmers nor Cortland assumes any duty and does not undertake to update forward-looking statements.

OTHER INFORMATION

In connection with the proposed merger, Farmers will file with the SEC a Registration Statement on Form S-4 that will include a joint proxy statement of Farmers and Cortland and a prospectus of Farmers, as well as other relevant documents concerning the proposed transaction.

SHAREHOLDERS OF CORTLAND AND OTHER INVESTORS ARE URGED TO CAREFULLY READ THE PROXY STATEMENT/PROSPECTUS TO BE INCLUDED IN THE REGISTRATION STATEMENT ON FORM S-4, BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT FARMERS, CORTLAND, THE PROPOSED MERGER, THE PERSONS SOLICITING PROXIES WITH RESPECT TO THE PROPOSED MERGER AND THEIR INTERESTS IN THE PROPOSED MERGER AND RELATED MATTERS.

The respective directors and executive officers of Farmers and Cortland and other persons may be deemed to be participants in the solicitation of proxies from Cortland shareholders with respect to the proposed Merger. Information regarding the directors and executive officers of Farmers is available in its proxy statement filed with the SEC on March 12, 2021. Information regarding directors and executive officers of Cortland is available on its website at http://www.cortlandbank.com. Other information regarding the participants in the solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available. Contact information for Cortland Bancorp is James M. Gasior at 330-282-4111.

Investors and security holders will be able to obtain free copies of the registration statement (when available) and other documents filed with the SEC by Farmers through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Farmers will be available free of charge on Farmers’ website at https://www.farmersbankgroup.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210623005553/en/

Amber Wallace

Executive Vice President, Chief Retail/Marketing Officer

330-720-6441

[email protected]

KEYWORDS: Ohio United States North America

INDUSTRY KEYWORDS: Banking Professional Services Insurance Finance

MEDIA:

Posted on June 23, 2021 8:04 am

East West Bancorp Announces Date for Second Quarter 2021 Financial Results

East West Bancorp Announces Date for Second Quarter 2021 Financial Results

PASADENA, Calif.–(BUSINESS WIRE)–
East West Bancorp, Inc. (“East West” or the “Company”) (Nasdaq: EWBC), parent company of East West Bank, the financial bridge between the United States and Greater China, will release second quarter 2021 financial results before the market opens on Thursday, July 22, 2021.

Conference Call Information

Management will discuss second quarter 2021 financial results with the public on Thursday, July 22, 2021 at 8:30 A.M. Pacific Time/ 11:30 A.M. Eastern Time via conference call. The public and investment community are invited to listen as management discusses second quarter operating developments.

Dial-In Numbers:

Within the U.S. Within Canada International

(877) 506-6399 (855) 669-9657 (412) 902-6699

Replay Numbers:

Within the U.S. Within Canada International Replay Access Code

(877) 344-7529 (855) 669-9658 (412) 317-0088 10157563

Replay will be available from July 22, 2021 at 11:30 A.M. Pacific Time/ 2:30 P.M. Eastern Time until August 22, 2021.

Information for the conference call and replay are provided on the Investor Relations page at www.eastwestbank.com/investors.

About East West

East West Bancorp, Inc. is a public company with total assets of $56.9 billion and is traded on the Nasdaq Global Select Market under the symbol “EWBC”. The Company’s wholly owned subsidiary, East West Bank, is one of the largest independent banks headquartered in California, operating over 120 locations in the United States and in China. The Company’s markets in the United States include California, Georgia, Massachusetts, Nevada, New York, Texas and Washington. In China, East West’s presence includes full service branches in Hong Kong, Shanghai, Shantou and Shenzhen, and representative offices in Beijing, Chongqing, Guangzhou, and Xiamen. For more information on East West, visit the Company’s website at www.eastwestbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210623005129/en/

INVESTOR RELATIONS CONTACTS:

Irene Oh

Chief Financial Officer

T: (626) 768-6360

E: [email protected]

Julianna Balicka

Director of Strategy & Corporate Development

T: (626) 768-6985

E: [email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

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Box Announces Appointment of Diego Dugatkin as Chief Product Officer

Industry veteran brings wealth of Product Management leadership experience and expertise in document collaboration, content management, security, and e-signature to Box

REDWOOD CITY, Calif.–(BUSINESS WIRE)–
Box, Inc. (NYSE: BOX), the leading Content Cloud, today announced the appointment of Diego Dugatkin as Senior Vice President and Chief Product Officer. Most recently, Dugatkin was Vice President of Product Management for Adobe Document Cloud, leading strategy and execution for the Adobe Acrobat family of products across mobile, desktop and web, as well as Adobe Sign, with a focus on both enterprise and SMB segments. Dugatkin was also responsible for product management of the vast ecosystem of partnerships and integrations of Adobe’s Document Cloud with major products and brands, such as Microsoft, Salesforce, Workday, and many others.

“Diego is a deeply experienced leader with a fantastic sense for strategic product management and a proven track record of working closely with customers to develop insights, solve business challenges, and create value,” said Aaron Levie, co-founder and CEO of Box. “Diego will be integral to our leadership team as we continue to build out our vision for the Content Cloud and further drive profitable growth.”

“Box has an incredible opportunity to help millions of organizations transform and digitize their business processes,” said Diego Dugatkin. “For much of my career I’ve worked collaboratively with customers to understand how documents and content of all types are essential to the ways people work and businesses operate. With exciting new capabilities in areas like e-signature, workflow, security and more, the Box Content Cloud has the potential to be a defining platform for the cloud era. I’m thrilled to be a part of helping Box accelerate its next phase of growth.”

Current Box Chief Product Officer, Varun Parmar, will be transitioning out of the company to pursue an earlier stage startup opportunity.

“Varun has been a fantastic leader at Box and made incredible contributions to our Content Cloud vision while consistently delivering the new innovations and capabilities that have driven our differentiation and extended our leadership in cloud content management. We wish him the best as he dives back into his startup roots,” Levie said.

Background on Diego Dugatkin

As Senior Vice President and Chief Product Officer, Diego Dugatkin will drive Box’s product strategy and lead product management for the company. Prior to joining Box, Dugatkin was Vice President of Product Management at Adobe for Adobe Document Cloud. Through his tenure at Adobe, Document Cloud saw extraordinary growth, with a portfolio of products that spanned from the very mature and established like Adobe Acrobat, to fast growing products like Adobe Sign and the scanning app Adobe Scan, to the nascent Adobe Document Cloud Developer Platform.

Dugatkin has decades of experience in executive and senior operational roles across product management, product definition and development, strategic partnerships, marketing, M&A, and global business development. Prior to Adobe, Mr. Dugatkin was Chief Product Officer at SwitchFly and held a variety of senior product management positions with Conviva, Aspera, Fastsoft, and Ixia. He holds a Master of Science and Ph.D in electrical engineering from the California Institute of Technology.

About Box

Box (NYSE:BOX) is the leading Content Cloud that enables organizations to accelerate business processes, power workplace collaboration, and protect their most valuable information, all while working with a best-of-breed enterprise IT stack. Founded in 2005, Box simplifies work for leading organizations globally, including AstraZeneca, JLL, and Morgan Stanley. Box is headquartered in Redwood City, CA, with offices in the United States, Europe, and Asia. To learn more about Box, visit http://www.box.com. To learn more about how Box powers nonprofits to fulfill their missions, visit Box.org.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210623005237/en/

Investors:

Cynthia Hiponia and Elaine Gaudioso

+1 650-209-3463

[email protected]

Media:

Denis Roy and Rachel Levine

+1 650-543-6926

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Internet Security Data Management Technology Software

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New Report from BigCommerce and PayPal Sheds Light on Consumer Spending Habits Post-Covid

Survey results highlight need for retailers to have omnichannel strategies to support customer preferences

AUSTIN, Texas–(BUSINESS WIRE)–
Consumer shifts in how and where people buy products evolved significantly during the COVID-19 pandemic, creating new opportunities for retailers to use new channels, fulfillment strategies and payment options, according to the results of a new survey out today from BigCommerce (Nasdaq: BIGC) and PayPal (Nasdaq: PYPL).

While a majority of the 3,000 consumers surveyed from the United States, United Kingdom and Australia said they still prefer in-person shopping, 62.5% of respondents reported doing most of their purchasing online. Close to half said they’re discovering new products on social media at least once a month, and 66.7% of respondents said they’ve made a purchase directly through their phone at least once in the past month.

The findings highlight a growing need for retailers to invest in an omnichannel sales and marketing strategy that provides convenient and consistent shopping experiences in-store, online and on social media.

As customers continue to move away from brick-and-mortar stores to digital commerce and increasingly use their phones to make purchases, an omnichannel strategy opens up the opportunity for retailers to reevaluate their sales and marketing strategies to ensure they’re meeting customers where they are the most likely to spend.

“For years, we’ve seen ecommerce continue to gain ground on traditional shopping. Online and digitized experiences have required retailers to quickly adapt to changing consumer shopping behaviors, and this was expedited in the pandemic,” said Greg Lisiewski, vice president of Global Pay Later Products at PayPal. “Now more than ever, consumers want to be in control of how they pay, and they have a desire for friction-free, seamless digital shopping experiences regardless of which channel they are shopping in.”

How people pay for purchases is also changing. More consumers are using digital wallets both in-store and online. Prior to March 2020, digital wallets were the preferred payment option for 28.3% of online shoppers globally, but that jumped to 35.2% after March 2020. The increase for using digital wallets in-store was even greater, going from 12.1% to 22.8%.

“The data tells us that 70% of consumers are more likely to spend more at a retailer that offers their preferred payment method¹,” said Mark Rosales, vice president of Business Development, Payments/Banking/Fintech at BigCommerce. “By leveraging this behavioral data, merchants have better means and ability to implement the payment options their customers prefer, ultimately enabling those brands to realize significant sales growth.”

Other key findings:

• While 95.2% of respondents reported making at least one online purchase since March 2020, a slight majority across all regions reported a preference for in-person shopping. Despite that, 32.6% of U.S. respondents, 29.9% of UK respondents and 29.7% of Australian respondents said the convenience of online shopping still trumps any drawbacks, and new options like buy online, pick-up in store (BOPIS) are making it even more attractive.

• As a preferred way to buy, BOPIS has grown substantially since March 2020, with a 373% increase in the U.S., where BOPIS has been slower to catch on compared to other countries.

• The use of digital wallets rose in popularity during the pandemic with a global increase of 24.5% online and 88.7% for in-store purchases since March 2020. Respondents overwhelmingly commented that they’d prefer retailers make digital payment options more available.

• Mid-market merchants are increasingly adopting buy now, pay later (BNPL) solutions for their ecommerce stores with Australia leading the way. Forty-eight percent of Australian merchants, 20% of U.S. merchants and 11% of UK merchants currently offer BNPL options to customers.

  Consumers seem to fall into two main categories when it comes to using these types of solutions: power users and slow adopters. Globally, 46% say they’ve used a BNPL option at least once in the past three months. However, just 10.1% globally say they’ve used it five or more times in that same time period. In Australia, that number jumps to 15.5%. Fifty-four percent of global respondents — and 60.6% of U.S. respondents — have never used BNPL. Most said they were deterred by incurring fees or debt, or that they simply were not familiar with the option.

• Merchants would be wise to educate consumers on the benefits of buy now, pay later solutions, especially interest-free payment options. Young consumers especially are now accustomed to subscription-based payment models. BNPL financing options fall into this same category.

• Consumers are shopping mainly at large retailers or branded ecommerce stores. Of those polled, 58.2% said they shop at department stores, hypermarkets or big-box retailers, while 31.9% said they purchase directly from the ecommerce stores of their favorite name brands.

The full BigCommerce PayPal Consumer Spending Trends report is available at www.bigcommerce.com/dm/consumer-spending-trends-cdl-report/.

To learn more about BigCommerce’s built-in integration with PayPal go to www.bigcommerce.com/essentials/features/manage/accept-payments/paypal.

¹ Data collected from an online study commissioned by PayPal and conducted by Netfluential in November 2020, involving 1,000 US online shoppers ages 18-39.

About BigCommerce

BigCommerce (Nasdaq: BIGC) is a leading software-as-a-service (SaaS) ecommerce platform that empowers merchants of all sizes to build, innovate and grow their businesses online. As a leading open SaaS solution, BigCommerce provides merchants sophisticated enterprise-grade functionality, customization and performance with simplicity and ease-of-use. Tens of thousands of B2B and B2C companies across 150 countries and numerous industries use BigCommerce to create beautiful, engaging online stores, including Ben & Jerry’s, Molton Brown, S.C. Johnson, Skullcandy, Sony and Vodafone. Headquartered in Austin, BigCommerce has offices in San Francisco, Sydney and London. For more information, please visit www.bigcommerce.com or follow us on Twitter, LinkedIn, Instagram and Facebook.

BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.

About PayPal

PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering more than 375 million consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210623005059/en/

Rachael Hensley

[email protected]

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Online Retail Retail Technology Other Retail Software Internet

MEDIA:

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AerSale Expected to Join Russell 2000^® Index

MIAMI–(BUSINESS WIRE)–
AerSale Corporation (Nasdaq: ASLE) (the “Company”) is set to join the Russell 2000^® Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the US market opens on June 28, 2021.

Index membership means automatic inclusion in the appropriate growth and value style indexes also and remains in place for one year.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including without limitation statements regarding our anticipated financial performance; our growth trajectory; the impact of investments in our Boeing 757 program on our financial performance; our ability to sell our aircraft on the timelines we anticipate; the expected operating capacity of our MRO facilities; the expected commencement date of sales of our AerAware product; and our anticipated revenue split between our two segments. AerSale’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. Many factors could cause actual future events to differ materially from the forward-looking statements in this presentation, including without limitation, the impact of the COVID-19 pandemic; factors adversely impacting the commercial aviation industry; the fluctuating market value of our products; our ability to repossess mid-life commercial aircraft and engines; our ability to comply with stringent government regulation; the shortage of skilled personnel, including as a result of work stoppages; the highly competitive nature of the markets in which we operate; and risks associated with our international operations. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission (“SEC”) on March 16, 2021, and its other filings with the SEC, including its quarterly report on Form 10-Q for the quarter ended March 31, 2021 filed with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and AerSale Corporation assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

About AerSale

AerSale serves airlines operating large jets manufactured by Boeing, Airbus and McDonnell Douglas and is dedicated to providing integrated aftermarket services and products designed to help aircraft owners and operators to realize significant savings in the operation, maintenance and monetization of their aircraft, engines, and components. AerSale’s offerings include: Aircraft & Component MRO, Aircraft and Engine Sales and Leasing, Used Serviceable Material sales, and internally developed ‘Engineered Solutions’ to enhance aircraft performance and operating economics (e.g. AerSafe™, AerTrak™, and now AerAware™).

For more information about AerSale, please visit our website: www.AerSale.com.

Follow us on: LinkedIn | Twitter | Facebook | Instagram

About FTSE Russell:

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $17.9 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group.

For more information, visit www.ftserussell.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210623005082/en/

Media Contact:

AerSale: Craig Wright Telephone: (305) 764-3200

Email: [email protected]

Investor Contact:

AerSale: [email protected]

KEYWORDS: United States North America Florida

INDUSTRY KEYWORDS: Aerospace Manufacturing Other Manufacturing Air Transport

MEDIA:

Posted on June 23, 2021 8:03 am

Zebra Offers Broadest Portfolio of U.S. Dept. of Defense STIG Validated Rugged Devices

Zebra Offers Broadest Portfolio of U.S. Dept. of Defense STIG Validated Rugged Devices

Security Technical Implementation Guide (STIG) validation allows all U.S. military branches to deploy Zebra Android™ 10 mobile devices on Department of Defense networks

LINCOLNSHIRE, Ill.–(BUSINESS WIRE)–Zebra Technologies Corporation (NASDAQ: ZBRA), an innovator at the front line of business with solutions and partners that deliver a performance edge, today announced that it has received STIG validation from the Defense Information Systems Agency (DISA). This validation allows U.S. military agencies to purchase and deploy 28 different Zebra Android™ 10-based mobile devices on U.S. Department of Defense (DoD) network systems, all of which are now listed on the Department of Defense Information Network’s (DoDIN) Approved Products List.

STIG validation is a security review and configuration standard that helps ensure IT products and military agencies are complying with DoD security policies. It also reinforces Zebra’s dedication to information security. Zebra’s portfolio of Android 10 mobile devices previously received the internationally recognized Common Criteria certification used to evaluate the security properties of IT products.

Devices considered for Common Criteria certification must have achieved FIPS 140-2 validation and undergo rigorous testing through an independently licensed lab. The results are evaluated and verified by the National information Assurance Partnership (NIAP). Devices considered for STIG validation are evaluated by DISA to ensure Zebra’s Android 10-based mobile devices meet the high level of security required to connect to DoD networks.

“Zebra offers the largest portfolio of DISA-approved, enterprise-grade mobile devices on the market, supporting a wide array of U.S. military and civilian operations,” said Joe White, Senior Vice President and General Manager, Enterprise Mobile Computing, Zebra Technologies. “The public sector is one of Zebra’s fastest growing markets, and these security validations demonstrate our commitment to providing secure mobility solutions to our customers.”

Zebra’s Android-based mobile devices are built on its Mobility DNA software platform, offering government customers enterprise-level capabilities such as enhanced security, real-time application management and visibility as well as easier integration and enhanced productivity tools.

KEY TAKEAWAYS

• Zebra has received STIG validation from DISA – providing U.S. military agencies the broadest portfolio of enterprise-grade Android 10-based mobile devices on the DoDIN Approved Products List.
• The STIG validation and Common Criteria certification reinforces Zebra’s commitment to providing secure mobile solutions.
• Zebra’s Mobility DNA platform transforms Android into an enterprise-ready operating system that allows businesses and government entities to maximize the return on investment of their Zebra mobile devices by increasing productivity, simplifying management, and strengthening security.

ABOUT ZEBRATECHNOLOGIES

Zebra (NASDAQ: ZBRA) empowers the front line in retail/ecommerce, manufacturing, transportation and logistics, healthcare, public sector and other industries to achieve a performance edge. With more than 10,000 partners across 100 countries, Zebra delivers industry-tailored, end-to-end solutions to enable every asset and worker to be visible, connected and fully optimized. The company’s market-leading solutions elevate the shopping experience, track and manage inventory as well as improve supply chain efficiency and patient care. In 2020, Zebra made Forbes Global 2000 list for the second consecutive year and was listed among Fast Company’s Best Companies for Innovators. For more information, visit www.zebra.com or sign up for news alerts. Participate in Zebra’s Your Edge blog, follow the company on LinkedIn, Twitter and Facebook, and check out our Story Hub: Zebra Perspectives.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210623005021/en/

Media Contact:

Emily Alfano

Zebra Technologies

+1-262-960-6108

[email protected]

Industry Analyst Contact:

Kasia Fahmy

Zebra Technologies

+1-224-306-8654

[email protected]

KEYWORDS: Illinois United States North America

INDUSTRY KEYWORDS: Defense Security Technology Mobile/Wireless Software Networks Other Defense

MEDIA:

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UiPath Completes SOC 2® Type 2 Examination for UiPath Automation Cloud

Demonstrates Company’s commitment to data security, confidentiality, and availability

NEW YORK–(BUSINESS WIRE)–
UiPath (NYSE: PATH), a leading enterprise automation software company, today announced that it has successfully completed SOC 2 Type 2 System and Organization Controls (SOC 2) examination for UiPath Automation Cloud in accordance with attestation standards established by the American Institute of Certified Public Accountants (AICPA).

This attestation, among the Company’s extensive list of security capabilities, provides assurance to UiPath global customers in highly-regulated industries who trust UiPath with their most sensitive data. To help organizations around the world use automation to become faster and more agile in the face of increased demand and rapidly changing environments, the UiPath Automation Cloud enables customers to start their enterprise automation deployments instantly and scale up over time without compromising security or requiring high upfront costs.

“Security Benefit is excited to see that UiPath has completed a SOC 2 Type 2 attestation, which provides independent assurance around controls relevant to security, availability, and confidentiality that you depend on when using a cloud service provider like UiPath,” said Amy Chandler, Second Vice President, RPA COE, Six Sigma Black Belt. “Independent assurance like SOC 2 Type 2 attestation is a key factor in our compliance program from the standpoint of vendor risk management, due diligence, and oversight from a control perspective with our auditors.”

“At UiPath, nothing is more important to us than earning the trust of our customers and ensuring security and confidentiality of their data,” said Ted Kummert, UiPath Executive Vice President of Products and Engineering. “Establishing trust with our customers is a continuous commitment, and SOC 2 Type 2 attestation is a key milestone our customers can rely on. We continue to invest in all aspects of building trust in our services, and look forward to sharing further milestones as that journey continues.”

For more details about UiPath trust and security initiatives, please visit the Trust and Security Center on UiPath.com.

About UiPath

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Imperial committed to long-term shareholder value

CALGARY, Alberta–(BUSINESS WIRE)–
Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today that it has received final acceptance from the Toronto Stock Exchange (TSX) for a normal course issuer bid (NCIB) to repurchase up to five percent of its 711,673,439 outstanding common shares as of June 15, 2021, or a maximum of 35,583,671 shares during the next 12 months. This maximum will be reduced by the number of shares purchased from Exxon Mobil Corporation (ExxonMobil), Imperial’s majority shareholder, as described below.

The new one year program will begin on June 29, 2021, and will end should the company purchase the maximum allowable number of shares, or on June 28, 2022.

Imperial has established an automatic share purchase plan with its designated broker to facilitate the purchase of common shares, both under the NCIB and concurrently from ExxonMobil, during times when Imperial would ordinarily not be permitted to purchase due to regulatory restrictions or self-imposed black-out periods. Before entering a black-out period, Imperial may, but is not required to, instruct the broker to make purchases under the NCIB based on parameters set by Imperial in accordance with the share purchase plan, TSX rules and applicable securities laws. The plan has been pre-cleared by the TSX and will be implemented effective June 29, 2021.

Consistent with the company’s balance sheet strength, low capital requirements and strong cash generation, this announcement reflects the company’s priority and capacity to return cash to shareholders. The NCIB represents a flexible and tax-efficient way of distributing surplus liquidity to shareholders who choose to participate by selling their shares. In addition, the NCIB will be used to eliminate dilution from shares issued in conjunction with Imperial’s restricted stock unit plan.

ExxonMobil will be permitted to sell its shares to Imperial outside of, but concurrent with, the NCIB in order to maintain its proportionate share ownership at approximately 69.6 percent. ExxonMobil advised Imperial that it intends to participate, as it has in prior years, and has established an automatic share disposition plan to facilitate the sale of its shares concurrent with the NCIB.

All share purchases will be made through the Toronto Stock Exchange and through other designated exchanges and published markets in Canada. Shares purchased under the NCIB are cancelled and restored to the status of authorized but unissued shares.

As of June 15, 2021, Imperial has 711,673,439 issued and outstanding common shares. The average daily trading volume of Imperial’s common shares over the six calendar months prior to the date of this announcement was 1,250,051 shares per day. Imperial’s daily purchase limit under the new program will be 312,512 shares, which represents 25 percent of the average daily trading volume.

The acceptance marks the continuation of Imperial’s existing share repurchase program that will expire on June 28, 2021. Under the existing program, which was amended on April 30, 2021, a maximum number of 29,363,070 shares are available for purchase, reduced by the number purchased from ExxonMobil. As of June 18, 2021, Imperial has purchased 7,522,148 shares on the open market and a corresponding 17,205,732 shares from ExxonMobil to maintain its proportionate share ownership at 69.6 percent, representing a total cost of about $982 million and an average cost of $39.73 per share.

Cautionary statement: Statements of future events or conditions in this release, including projections, expectations and estimates are forward-looking statements. Forward-looking statements in this release include references to the company’s low capital requirements, strong cash generation, and priority and capacity to return cash to shareholders. Forward-looking statements are based on the company’s current expectations, estimates, projections and assumptions at the time the statements are made. Actual future financial and operating results, including expectations and assumptions concerning demand growth and energy source, supply and mix; commodity prices, foreign exchange rates and general market conditions; production rates, growth and mix; project plans, timing, costs, technical evaluations and capacities and the company’s ability to effectively execute on these plans and operate its assets; progression of COVID-19 and its impacts on Imperial’s ability to operate its assets, including the possible shutdown of facilities due to COVID-19 outbreaks; applicable laws and government policies, including restrictions in response to COVID-19; and capital and environmental expenditures could differ materially depending on a number of factors. These factors include global, regional or local changes in supply and demand for oil, natural gas, and petroleum and petrochemical products and resulting price, differential and margin impacts, including foreign government action with respect to supply levels and prices and the impact of COVID-19 on demand; availability and allocation of capital; availability and performance of third-party service providers, including in light of restrictions related to COVID-19; management effectiveness and disaster response preparedness, including business continuity plans in response to COVID-19; political or regulatory events, including changes in law or government policy such as tax laws, production curtailment and actions in response to COVID-19; unanticipated technical or operational difficulties; operational hazards and risks; currency exchange rates; general economic conditions; and other factors discussed in Item 1A risk factors and Item 7 management’s discussion and analysis of financial condition and results of operations of Imperial Oil Limited’s most recent annual report on Form 10-K and subsequent interim reports on Form 10-Q.

Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Imperial Oil Limited. Imperial’s actual results may differ materially from those expressed or implied by its forward-looking statements and readers are cautioned not to place undue reliance on them. Imperial undertakes no obligation to update any forward-looking statements contained herein, except as required by applicable law.

Source: Imperial

After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada’s energy resources. As Canada’s largest petroleum refiner, a major producer of crude oil, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.

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